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Analysing the heterogeneity of traveller mode choice preference using a random parameter logit model from the perspective of principal-agent theory

Journal Article


Abstract


  • When travellers entrust their desire for a transport mode that is

    customer-focused (i.e., reliable) to the Transport for NSW (TfNSW), this

    creates a metaphorical contract between travellers and the TfNSW, known as

    an agency contract. This contract is often characterised by agency uncertainty

    because both are most likely to act in their own self-interest. It can be assumed

    that where there is a high use of public transport, the TfNSW is performing the

    entrusted tasks as per travellers’ demand, which indicates an improvement in

    agency uncertainty. On the other hand, where there is a high use of private

    transport, it is likely that the TfNSW is acting largely in its own self-interest,

    and the agency problem remains unresolved. From the results, it is shown that

    the probability of car use is significantly higher than public transport, which

    indicates that an agency problem exists in the traveller-TfNSW relationship. It

    is recommended that integrating traveller preferences in transport projects

    would help to resolve this problem.

Publication Date


  • 2014

Citation


  • Anwar, A. Mehbub., Tieu, K., Gibson, P., Win, K. Than. & Berryman, M. J. (2014). Analysing the heterogeneity of traveller mode choice preference using a random parameter logit model from the perspective of principal-agent theory. International Journal of Logistics Systems and Management, 17 (4), 447-471.

Scopus Eid


  • 2-s2.0-84901605487

Ro Metadata Url


  • http://ro.uow.edu.au/eispapers/2306

Has Global Citation Frequency


Number Of Pages


  • 24

Start Page


  • 447

End Page


  • 471

Volume


  • 17

Issue


  • 4

Place Of Publication


  • United Kingdom

Abstract


  • When travellers entrust their desire for a transport mode that is

    customer-focused (i.e., reliable) to the Transport for NSW (TfNSW), this

    creates a metaphorical contract between travellers and the TfNSW, known as

    an agency contract. This contract is often characterised by agency uncertainty

    because both are most likely to act in their own self-interest. It can be assumed

    that where there is a high use of public transport, the TfNSW is performing the

    entrusted tasks as per travellers’ demand, which indicates an improvement in

    agency uncertainty. On the other hand, where there is a high use of private

    transport, it is likely that the TfNSW is acting largely in its own self-interest,

    and the agency problem remains unresolved. From the results, it is shown that

    the probability of car use is significantly higher than public transport, which

    indicates that an agency problem exists in the traveller-TfNSW relationship. It

    is recommended that integrating traveller preferences in transport projects

    would help to resolve this problem.

Publication Date


  • 2014

Citation


  • Anwar, A. Mehbub., Tieu, K., Gibson, P., Win, K. Than. & Berryman, M. J. (2014). Analysing the heterogeneity of traveller mode choice preference using a random parameter logit model from the perspective of principal-agent theory. International Journal of Logistics Systems and Management, 17 (4), 447-471.

Scopus Eid


  • 2-s2.0-84901605487

Ro Metadata Url


  • http://ro.uow.edu.au/eispapers/2306

Has Global Citation Frequency


Number Of Pages


  • 24

Start Page


  • 447

End Page


  • 471

Volume


  • 17

Issue


  • 4

Place Of Publication


  • United Kingdom